KOLKATA: After six weeks of panic cash withdrawals, people have begun visiting branches to deposit money in their savings accounts. Not just that, Rs 2,000 and Rs 500 notes issued post-demonetisation are making their way back into banks, an indication that the new currency is being circulated, instead of being hoarded, fearing continuation of crisis.
“A part of the funds at the cash counter is being met from customer deposits.We are seeing a slow yet steady inflow of new notes deposited by savings bank account-holders. Once the volume increases, it will mean an end to the monetary crisis,” said the branch manager of a Uco Bank branch.
The slowing down of withdrawals by account-holders is another indication that customers’ panic reaction is ebbing.
